Ripple invested $ 11 million in MoneyGram

The Ripple startup donated 11.3 million to the MoneyGram transfer service. This happened in the second half of last year. The news was reported to CoinDesk as part of its reporting on exchanges and bonds. The money came in the form of several transactions that took place in the third and fourth quarters. MoneyGram became the first service to use the blockchain function. The company is actively expanding its partnership with Ripple.

The document does not explain the direction of the funds received. The third quarter report announces the engagement of the On-Demand Liquidity solution. The service is used to make international payments. The companys expectations are associated with large partnerships and generating funds for profit. The end of last year was marked by the operation of ODL on the XRP token. Alex Holmes clarifies that the service handles translations from the United States and Mexico. The head of the Ripple company admitted that the lions share of the profit comes from the sale of XRP cryptocurrency. The head notes that without the sale of digital coins, the company would not have had a positive turnover. A major deal between the two companies was completed successfully. The California-based startup now owns 9% of the service. The agreement between the companies is valid until 2023.